Hodges Capital Management Inc. Invests $5.83 Million in Gildan Activewear, Inc. $GIL

Hodges Capital Management Inc. bought a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 100,800 shares of the textile maker’s stock, valued at approximately $5,826,000. Hodges Capital Management Inc. owned approximately 0.07% of Gildan Activewear as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. lifted its position in shares of Gildan Activewear by 2.5% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock worth $418,000 after purchasing an additional 207 shares during the last quarter. Signaturefd LLC lifted its holdings in Gildan Activewear by 2.8% during the 3rd quarter. Signaturefd LLC now owns 7,659 shares of the textile maker’s stock worth $443,000 after buying an additional 209 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Gildan Activewear by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,612,000 after acquiring an additional 231 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Gildan Activewear by 12.1% in the 3rd quarter. Blue Trust Inc. now owns 2,268 shares of the textile maker’s stock valued at $131,000 after acquiring an additional 245 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock worth $616,000 after acquiring an additional 259 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Down 0.2%

NYSE:GIL opened at $72.47 on Wednesday. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $73.69. The company has a current ratio of 2.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. The stock’s 50 day simple moving average is $65.22 and its 200-day simple moving average is $59.79. The firm has a market cap of $13.42 billion, a P/E ratio of 23.15 and a beta of 1.08.

Wall Street Analyst Weigh In

GIL has been the subject of a number of research analyst reports. National Bank Financial upped their price target on Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. BMO Capital Markets upped their target price on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday, December 29th. Scotiabank reissued an “outperform” rating on shares of Gildan Activewear in a research report on Tuesday, February 3rd. Finally, UBS Group restated a “buy” rating and issued a $110.00 price objective (up previously from $80.00) on shares of Gildan Activewear in a research note on Tuesday, December 16th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.54.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.